IREN Limited reported financial results for the fiscal year ended June 30, 2026, marking a strategic transition from Bitcoin mining to AI Cloud Services. FY26 total revenue reached $707.0 million, with AI Cloud Services revenue surging eightfold to $128.8 million compared to $16.4 million in the prior year. The company reported a net loss of $702.6 million, driven by $638.8 million in non-cash impairments related to decommissioning Bitcoin mining hardware. Adjusted EBITDA was $245.7 million. IREN secured a new multi-year contract with a leading frontier AI lab and announced $2.8 billion in GPU financings at 9.0% fixed rate, which funds 90% of associated capital expenditures. The company also completed the acquisitions of Mirantis and Nostrum Group to expand its software capabilities and European presence. IREN operates as a vertically integrated AI Cloud platform delivering data centers, compute, and software for AI training and inference.

IREN Limited announced on August 13, 2026, that Microsoft accepted Horizon 1, the first of four 50MW AI Cloud deployments at its Childress, Texas campus. This delivery is part of a five-year, $9.7 billion cloud services contract initiated in November 2025. Additionally, IREN achieved NVIDIA Exemplar Cloud status on GB300 NVL72 hardware following successful performance testing. The company continues to target an expansion to 480MW of gross AI Cloud capacity in 2026 and 1.2GW in 2027. IREN operates as a vertically integrated AI Cloud platform, providing data centers, compute infrastructure, and software for artificial intelligence training and inference.

IREN Limited announced on August 4, 2026, that it has completed its acquisition of Mirantis, Inc., closing on August 3, 2026. The transaction was settled through the issuance of approximately 12.6 million ordinary shares, fixed at signing, plus cash, restricted stock units, and other consideration totaling approximately $40 million as of closing. This strategic move integrates Mirantis' cloud software capabilities into IREN's vertically integrated AI Cloud platform, enhancing its offerings in AI workload orchestration and monitoring for hyperscalers and enterprises. The acquisition supports IREN's strategy to serve a diverse customer base across bare metal and managed cloud services. IREN Limited operates as a vertically integrated artificial intelligence cloud provider, delivering large-scale data centers and compute infrastructure for AI training and inference.

IREN Limited announced it has raised its year-end 2026 AI Cloud annualized run-rate revenue (ARR) target from $3.7 billion to over $4 billion. This increase follows the signing of new multi-year cloud services contracts with leading AI developers, totaling $2.8 billion in contract value. Approximately 85% of the target ARR is now under contract. Key customers include Microsoft, NVIDIA, Perplexity, Figure AI, Together AI, Fluidstack, Fireworks AI, Fal AI, and Hume AI. As of June 30, 2026, the company held approximately $7.6 billion in cash and cash equivalents. IREN is a vertically integrated AI Cloud provider delivering large-scale data centers and compute for AI training and inference.

On June 30, 2026, IREN Limited's Board of Directors approved equity grants of 9,099,328 restricted stock units (RSUs) to each Co-Chief Executive Officer, William Roberts and Daniel Roberts. The awards, scheduled for grant around July 1, 2026, feature a six-year vesting and holding period. RSUs will vest in equal annual installments over four years, followed by a two-year post-vesting holding period extending to the 2033 fiscal year. To ensure alignment, neither Co-CEO will receive further equity incentive grants until the 2031 fiscal year. IREN Limited is a technology company focused on digital asset mining and infrastructure.